Skills of ManagementStrategic thinking skills

Definition

Strategic thinking allows a manager to see their business as a whole — as a range of parts that depend on and interact with each other, like gears working in a machine and to take the broad, long-term view.

The importance of strategic thinking:

The importance ability to think strategically lets the manager see the ‘big picture’. The manager may then:

visualise how work teams and individuals interrelate

gain insights into an uncertain future

see the business in the context of events and trends, and identify opportunities or threats.

Strategic thinking helps decision making about actions to help the company become more successful.

The result of strategic thinking is to anticipate the market place and remain competitive, and to identify new oppurtunities of the company.

Why is strategic thinking is needed:

To set the direction for the company to remain competitive in the marketplace

To maximise effective use of limited company resources. This includes money, people and time